AUDUSD Seeks to Break the 0.73150 Barrier Following the Latest Setback
Login

AUDUSD Seeks to Break the 0.73150 Barrier Following the Latest Setback

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

AUDUSD Price Analysis – January 20

AUDUSD seeks to surmount the 0.73150 as it recovers from its latest setback. The market can be seen to be zigzagging through an ascending channel, making consistently higher highs and higher lows. Price has made its first contact with the resistance level and has dropped to the lower border of the channel. The current rise from the lower border of the channel is expected to break the 0.73150 level.


AUDUSD Critical Levels

Resistance Levels: 0.73150, 0.74470, 0.75590
Support Levels: 0.72370, 0.71050, 0.69960

AUDUSD Seeks to Break the 0.73150 Barrier Following the Latest Setback AUDUSD Long Term Trend: Bullish

A long-drawn consolidation that lasted from the beginning of 2021 till mid-2021 ended up in a 7% price drop. As soon as the price touched down at 0.71050, the market seeks recovery and cranked upward through a channel. However, at the third time of dropping to the lower border of the channel, the price unexpectedly slips through it and dropped further to the lower support at 0.69960.

Market buyers, however, aren’t giving in to depression as they seek immediate recovery. A “three-white-soldiers” candlestick pattern was used to ascend to the next price line. The market is rising further using another channel. Now, the price seeks to break the 0.73150 barrier. The Moving Average period 50 has dropped below the daily candles to provide support for the market. The Relative Strength Index now has its tip above the 50 mark.

AUDUSD Seeks to Break the 0.73150 Barrier Following the Latest Setback AUDUSD Short Term Trend: Bullish

In the short term, the price has bounced off the lower border of the ascending channel and is now attempting to negotiate the first barrier moving forward, located at 0.72370. The odds are in favor of the bulls surmounting the major resistance at 0.73150. Once again, the MA period 50 is acting as support for the market as the RSI indicator is now in the bullish half of the chart.

You can purchase crypto coins here: Buy coins

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News